Bulls are pausing under new multi-year high before fresh push higher
The USDJPY is taking a breather under new 24-year high on Wednesday, as overbought conditions prompt some profit-taking after the pair advanced 3.3% in past three days and traded at levels last seen in 1998.
Overall picture shows bulls…
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UK inflation rises to new highest in four decades in May
Inflation in UK continued to rise and hit new 40-year record in May, contributing to severe problem of fast-rising cost of living, which is the hottest issue for the government, but also further hurting all sectors of the economy.
The…
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Oil price falls over $5 as US Biden pushes for lower fuel prices
WTI oil fell sharply on Wednesday, losing around 5.6% in Asian and early European session, following push by US President Biden to bring down soaring fuel prices, which cause a huge problem to Americans as the summer driving season started.…
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German economy may slide into recession if crisis with Russian gas supplies deteriorates
The latest reduction in natural gas supplies from Russia to Germany via the Nord Stream 1 pipeline under the Baltic Sea, although Russia said that technical problem caused lower flow, further raised fears that the economy may enter…
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Recovery continues to face strong headwinds from thick daily cloud
The Euro advances for the second consecutive day and cracks strong resistance provided by the base of thick daily cloud (1.0569) reinforced by converged daily Tenkan-sen / Kijun-sen.
Recovery was already rejected under the cloud base last…
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Cable stands at the front foot ahead of UK inflation report
Cable extends recovery after Friday’s drop, holding positive sentiment after the BoE kept its mode of gradual rate increases on last week’s policy meeting, but showed readiness for more aggressive steps if needed to curb surging inflation.…
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Bullish continuation is likely scenario after completion of a shallow correction
Bulls pressure a multi-year peak at 135.57 on Tuesday after shallow pullback last week, as bear-trap under 112.06 Fibo support and Friday’s bullish engulfing signaled that bulls returned to power and accelerated rebound.
Although daily…
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The downside remains at risk while the price stays below 0.70 pivot and unlikely more aggressive RBA
The AUDUSD remains constructive in early Tuesday, though the downside is still at risk after Monday’s action was strongly rejected at psychological 0.70 barrier, reinforced by falling 10DMA, which marks pivotal point.
Technical studies on…
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Dollar is set for further advance
Bulls are consolidating under new two-decade high but remain in play and position for further advance.
The dollar is supported by strong Fed rate hikes and hawkish stance that signals further action, as well as safe-haven demand on…
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Limited recovery likely to precede bearish continuation
The Euro edges higher on Monday, following Friday’s drop that generated strong signal of recovery stall.
Fresh strength was fueled by weaker dollar and resisted negative news that French President Macron lost an absolute majority in the…
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